Oppenheimer analyst Brian Schwartz maintained a Buy rating on Apptio Inc (NASDAQ: APTI) today and set a price target of $42. The company’s shares closed yesterday at $28.58.
Schwartz observed:
“We preview Apptio’s 3Q following what has been elevated concern about the sustainability of the company’s growth and a particularly harsh rotation out of the stock subsequent to a +76% YTD performance. The Apptio story is strong and valuation offers an attractive entry point for structural growth. We see a path for Apptio to restore confidence through: 1) Good enough third-quarter results; 2) a solid profitable growth outlook in 2019 that should build as Apptio’s products are increasingly viewed strategic rather than a discretionary sale, and the broadening product line gains traction in the commercial and public sector markets; and 3) as a positive operating margin ramp becomes visible next year, demonstrating the profitable model leverage, it should expand the investor base. Reiterate Outperform.”
According to TipRanks.com, Schwartz is a top 25 analyst with an average return of 26.5% and a 74.4% success rate. Schwartz covers the Technology sector, focusing on stocks such as Ultimate Software, Instructure Inc, and Salesforce.com.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Apptio Inc with a $41.75 average price target.
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The company has a one-year high of $41.36 and a one-year low of $18.39. Currently, Apptio Inc has an average volume of 472.3K.
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Apptio, Inc. enagages in the provision of technology business management solutions. It offers software-as-a-sevice applications including cost transparency, information technology planning and benchmarking, business insights, and bill of information technology.
